What is the difference between GDP and GNP? Why might GNP be greater than GDP in some countries while the reverse is true in others? Explain.

  1. For Qatar’s economy, collect time series data (at least for 15 years) on real GDP, real GDP per person, inflation and unemployment.  Using graphs, show the historical   performance of the economy and comment on the trend over time for each of the variables.

 

    1. What is the difference between GDP and GNP? Why might GNP be greater than GDP in some countries while the reverse is true in others? Explain.

 

  1. In your country which would you want to be bigger? Why?

In your country, which one was actually bigger in 2014?

 

  1. Refer to your lecture note (chapter 2). Update the table on GDP and GNP for 5 countries including Qatar for the year 2012 or 2014 (whichever is available).

 

  1. Given the following data for an economy, compute the value of GDP. (Show

your work)

 

 

2008

(base year)

2009 2010
P Q P Q P Q
good A $30 900 $31 1,000 $36 1050
good B $100 192 $102 200 $100 205

 

4.Use the above data to solve the following problems:

  1. Compute real GDP in 2009
  2. Compute the GDP deflator in 2010.
  3. Compute the inflation rate for 2010.

 

5.Look at a recent issue (no more than 2 months old) of any local newspaper in Qatar and pick an article that uses economic data. What economic statistics have been released? How do you interpret these statistics?

 

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